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View Diary: Lindsey Graham promises global 'financial collapse and calamity' over debt ceiling (195 comments)

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  •  He doesn't. (1+ / 0-)
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    marina

    There are two separate scenarios being floated for response to complete irresponsibility on the part of Congress re the debt ceiling.  One is to declare the nation's debt an inviolable obligation and take whatever action is necessary to render it unquestionable as directed by the 14th Amendment.  The other is to mint a platinum coin of whatever denomination he in his Executive judgement deems necessary, and deposit it to the US Treasury account as a credit against our debt, allowing more borrowing without ever trying to make any actual creditor accept the coin as payment.

    The President doesn't WANT to use either of these options.  But he has them, he knows he has them, and if it's a choice between using one or both or letting the US and world economies crash and burn for a second time, he is going to choose the most responsible manner he can to respond.  Obama isn't very flashy and macho, but cool and competent, he can do standing on his head and juggling donuts while drunk.

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